Yen has dropped steadily from the wave (e) of a triangle target of 90.41. So far, no complaints as it has been on plan. FXY has tested support at 86.71 with the Lomb pulled down where it is...
The expected reversal may have begun
out of an Elliott wave triangle
We're looking at how the upcoming currency moves might play out for the Japanese Yen and the related ETF.
This spring might see a downward cascade
Two ways a decline might play out
Price is putting stress on a supportive trend line, forcing a squeeze between support and resistance.
The modest rally in the Yen that we predicted in our February post has advanced nicely. Now price is approaching the area we have been watching for a downward turn.
The yen has been moving up the first part of this year as expected but should be nearing an inflection either in May or June. The ideal cycle high is in June but we need to be alert for a high...
April bulletin from Trading On The Mark